10531 Aurora Avenue N, Seattle, WA 98133
- $1,478,000
Courtesy of Real Property Associates
- List Price
- $1,478,000
- Status
- ACTIVE
- Days on Market
- 53
- Price Change
- ▼ $40,000 1787276032
- MLS#
- 2566364
- Subtype
- Land
- Style
- 42 - Multi-Family
- Lot Size
- 13,440
- Acres
- 0.31
- Subdivision
- Greenwood
- Neighborhood
- Greenwood
- MLS Area Major
- Ballard/Greenlake
Property Description
Exceptional development opportunity on a 13,440 SF lot in prime and highly connected North Seattle location. NC3-55 zoning may offer potential for a future multifamily development of approximately 60–80 units; buyer to verify all development feasibility. Conveniently located near Northgate Light Rail, transit, shopping, dining, major employers and daily amenities, with an 87 Walk Score. The current property includes two buildings (3-unit building and a 10-unit building) with a desirable mix of studio, one- and two-bedroom residences, offering multiple investment strategies for a total of 13-units. Continue operating as an income-producing apartment community, increase returns through rent optimization and strategic improvements, or hold as a long-term development site. Current gross scheduled income is approximately $14,288 per month, with additional upside as several rents remain below market. Most units have been updated. A compelling combination of current income, value-add potential and long-term redevelopment opportunity.
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Additional Information
- Property Description
- 42 - Multi-Family
- School District
- Seattle
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
- View
- See Remarks, Territorial
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